Plaza

Overview

117 W Plaza Drive – Mooresville Commons was acquired in 2018 for $4,700,000. This 6+ acre retail center features national tenants such as Gerber Collision, Urgent Care, Little Caesars, Enterprise Rent-A-Car, and Allstate Insurance. The property was purchased as a distressed asset from a bank, presenting significant value-add potential with 40% vacancy at acquisition. We were able to double the property's value through strategic capital improvements and aggressive leasing efforts.

Highlights

• 6+ acre retail center
• National tenants
• 40% vacancy at acquisition
• Sold for $9M in 2024 — value doubled